The Federal Reserve banks---private or not.?

[dixiegrrrrl]

Watch this, and decide.

http://video.google.com/videoplay?docid=-4020719354420953428&hl=en

A video on Google, how our money system came to be the way it is.
Most highly recommended, easy to understand.

[zipplewrath]

1. No, their not

Membership is required by law, the membership must be bought. Those shares cannot be sold publicly, by law. They cannot be used as collateral, by law. The Fed Chair is appointed by the government. The Fed reports to congress. It is difficult to desribe that as a "private" entity. It is difficult to differentiate it from the Post Office in many ways.

[dixiegrrrrl]

2. Did you see the video?

[zipplewrath]

3. Yes, and their variations

This stuff is not new.

[mrgerbik]

4. the fed chair

is appointed for 14 years by the president from a list submitted by the Fed. Semi-quasi sorta governmental would be a better term.
Btw, The fed reporting to congress is a joke... this 'reporting' is more like congress trying to get information out of the chairman.

[FlyingTiger]

5. Reports to Congress?

Congress has repeatedly asked the Fed to divulge where over $2.2 TRILLION in non-publicized bailout money has gone, and the Fed has refused. The Fed has even refused to do so in a no-press-allowed private meeting.

[rcrush]

11. Its over 9 trillion now I believe

[truedelphi]

7. As you say the Fed chair is appointed by the government. BUT point to consider:

When the President makes the choice of who heads the Federal Reserve, I have heard that it is from one very short list. SO who gives him that short list?

The short list idea explains how we got Bernanke, when someone like Barbara Boxer would have been awesome. We need someone who would truly understand how to manage reforming our banking system, a no nonsense capable and honest person.

We are really sold short in this country.

[TheWatcher]

6. Here, I'll go ahead and take care of this before the Gatekeepers Of The Eternal False Paradigm

Show up.....

"Black Helicopter Stuff, doesn't exist, Conspiracy Kookery, Only what you've hear from trusted mainstream sources that have lied to you about everything else is true, You're rocking the boat, you're not towing the line, this should be in the dungeon, you're telling me something that is making me uncomfortable, so now I'm going to shout you down, Just shut up and go along with the crowd, etc, etc, etc"

That being said, Thanks for the Post. But those who will actually watch it and heed it are probably the choir that already knows. I've given up on the rest.

[dixiegrrrrl]

8. Sadly, I believe you are correct.

Horse, water, etc.

I still am working on my resentment of having to suffer the results of other people's learning curve, if you know what i mean. x(
Assuming there is a learning curve happening.



Heavy sigh.........

[ww2player]

9. Crooked organizations run by crooks to help other crooks get rich.

The FED ranks right up their with the DTCC. Try getting ANY information on how the DTCC handles the Stock trades and find out why there is more stock trading than is issued by companies. The DTCC is just another branch of the crookedness that is the US Government. And the taxpayers are getting the shaft in every way imaginable. Most of them we have not even begun to feel yet.

[jakeXT]

10. lots of secrets

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x434835

No one knows who's getting that money or exactly how much of it is disappearing through these new holes in the hull of America's credit rating. Moreover, no one can really be sure if these new institutions are even temporary at all — or whether they are being set up as permanent, state-aided crutches to Wall Street, designed to systematically suck bad investments off the ledgers of irresponsible lenders.

"They're supposed to be temporary," says Paul-Martin Foss, an aide to Rep. Ron Paul. "But we keep getting notices every six months or so that they're being renewed. They just sort of quietly announce it."

None other than disgraced senator Ted Stevens was the poor sap who made the unpleasant discovery that if Congress didn't like the Fed handing trillions of dollars to banks without any oversight, Congress could apparently go fuck itself — or so said the law. When Stevens asked the GAO about what authority Congress has to monitor the Fed, he got back a letter citing an obscure statute that nobody had ever heard of before: the Accounting and Auditing Act of 1950. The relevant section, 31 USC 714(b), dictated that congressional audits of the Federal Reserve may not include "deliberations, decisions and actions on monetary policy matters." The exemption, as Foss notes, "basically includes everything." According to the law, in other words, the Fed simply cannot be audited by Congress. Or by anyone else, for that matter.

http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print